The code in fact might flood you off the server; I think the following is what RusselB had in mind: processing the next whois if the actual whois finished - thereby producing a dynamic delay without flooding too many /whois-requests at once.
Code:
menu * {
  Alphabetical Whois : who_is $input(Channel Name,e,,$iif($chan,$v1))
}

alias -l who_is {
  if (!$nick(#$1,$me)) { echo -a Sorry you must be in #$1  }
  else {
    var %a = 1, %b = $nick(#$1,0)
    while (%a <= %b) {
      set %alpha_nicks $addtok(%alpha_nicks,$nick(#$1,%a),32)
      inc %a
    }
    set %alpha_nicks $sorttok(%alpha_nicks,32)
  }
  .enable #alpha_whois
  alpha_whois
}

alias -l alpha_whois {
  whois $gettok(%alpha_nicks,1,32)
}

#alpha_whois off
raw *:*:{
  if ($numeric == 318) {
    if ($deltok(%alpha_nicks,1,32)) {
      set %alpha_nicks $v1
      alpha_whois
    }
    else { .disable #alpha_whois }
    haltdef
  }
  elseif ($int($calc($numeric / 100)) == 3) {
    echo -s $1-
    haltdef
  }
}
#alpha_whois end

I also added "haltdef", as the code already echoes the reply to the status window.

btw: the line
Code:
 elseif ($int($calc($numeric / 100)) == 3) {
is ingenious laugh